KILLINGTON — The town has signed a three-year contract to sponsor the return of an internationally renowned cycling event.

The Killington Stage Race will return for the fourth straight year Memorial Day Weekend, May 25-27. Killington — along with fellow sponsors Long Trail Brewing and athletic apparel manufacturer Champion System — has paved the way for individual races, time trials and a grueling 60-mile run that concludes with a climb up East Mountain Road.

“It turns a ghost town into a destination,” said Town Manager Seth Webb, who in 2010 brought the race back to the area after a 10-year hiatus. “Events like the stage race, the concert series, the junior golf tournament, these are all efforts by the town to make this a four-season resort.”

This year, the town will spend $25,000 to sponsor the race, down from $32,000 in 2012. Since 2010, the Killington Stage Race has brought a combined $1.1 million to the local economy, according to a press release Webb issued.

The race originally ran from 1987 to 2000 and attracted more than 1,000 racers from across the United States, as well as Australia, Canada, New Zealand, and the United Kingdom.

“To bring the event back to Killington the race has proven itself as a great investment for the town. Each year we’ve spent less and attracted over 500 to 600 riders. We look forward to continuing this tradition in 2013 through 2015,” Webb said.